Frank Smith and Mike Wright

A payment of £3.5m from the Russo brothers to Laurence Bassini just before he become owner of Watford FC was for half the shares in the club’s former parent company, according to the Stanmore businessman.

Former Watford FC board members Jimmy and Vince Russo have secured a freezing injunction against Laurence Bassini to stop the ex- Hornets owner disposing of his assets.